AIR SOURCE HEAT AND POWER LTD

🌳Matureactive
09082883 · ltd · incorporated 2014-06-12
Investment thesis
Established operating company — standard diligence applies, no dominant angle.
Why interesting: Live, filing, normal profile.
Why risky: No standout signals in either direction.
🔒Estimated value
—
Upgrade to see
Turnover
—
year to Jun 2025
Net worth
—
book net assets
Opportunity
68/100
Strong
🔔
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What this business does
Primary activity: Wholesale of other machinery and equipment
Sector: Wholesale & retail
Investor take
Pass (distressed without resilience)
Distressed active trading company — structural issues outweigh the discount.

Opportunity 68/100 (strong), bankability 47/100. High owner-dependency — earn-out structure likely required for clean transition. Asset purchase likely safer than share purchase given structural signals. Biggest value-creation lever: Consolidate lender relationships. 5 distinct lenders creates friction — refinance into single-lender structure for cleaner diligence. Most likely exit: share sale to pe / searcher (73/100).

🏦

Refinance opportunity

16 live charges · 5 lenders · oldest 11.1y

35/100
too messy

Refinance path is blocked by complexity. Rethink structure or expect bespoke, expensive terms.

  • · Oldest live charge is 11.1 years old — likely at or near maturity.
  • · 5 lenders named — inter-creditor friction likely.
  • · Legal-friction score 40/100 — workable, but lender will want more DD.

Data confidence

Overall: high (81/100)

Strong data coverage across all sections. AI outputs should be trusted with minimal caveats.

Company profile
address, 1 SIC codes, incorporation date
100
Financials
2 years of iXBRL accounts extracted (YoY deltas available) + narrative notes parsed
75
Lenders & charges
16 charges (16/16 with lender, 16/16 with type)
90
Directors & officers
2 officers (2 active, 2 linked, 2 with DOB)
90
Ownership & PSC
2 active PSC(s) of 2 total, 2 with control declared
90
Director network
4 connected companies via shared directors
57
Filing history
54 filings on record
85
Gazette notices
No matching gazette notices (standard for active companies)
60
Opportunity Score
68/100Strong
PassWatchWorth a lookStrongExceptional 

Solid opportunity signal. Worth a dedicated memo and management meeting.

Business quality
50
Adequate — check latest filings for context.
Acquirability
75
Strong succession / seller-readiness signals.
Risk profile
64
Some moderate concerns — review flags.
Signal strength
100
Good data coverage for analysis.

Key financials

2 years extracted from filed iXBRL accounts
Cash
—
Net Worth
—
Current Assets
—
Current Liabilities
—
£0£0£0£0£0£0Jun 2024Jun 2025

Hover to see exact values · click legend to toggle series

Financials

Extracted from Companies House accounts · FRS 102
Metric2025-06-302024-06-30
Average employees2200

Amounts extracted automatically from iXBRL. Fields left blank were not reported or not mapped. Values in GBP unless stated.

🔒Filing-note intelligence

2 signals detected in this company's narrative notes — going-concern language, audit opinion, contingent liabilities, related-party transactions.

Available from the Pro tier upwards.

See pricing →

Recent activity

Last 30 days
1
filing
  • • 1 accounts
Last 90 days
1
filing
  • • 1 accounts
Last 180 days
1
filing
  • • 1 accounts
Counts from Companies House filing history.
Corporate timeline (37 events)Click to expand
  1. 2026-06-29
    📄
    accounts-with-accounts-type-total-exemption-full
    accounts · AA
  2. 2025-06-12
    📄
    change-person-director-company-with-change-date
    officers · CH01
  3. 2025-06-12
    📄
    change-to-a-person-with-significant-control
    persons-with-significant-control · PSC04
  4. 2025-03-28
    📄
    accounts-with-accounts-type-total-exemption-full
    accounts · AA
  5. 2025-01-08
    📄
    change-person-director-company-with-change-date
    officers · CH01
  6. 2025-01-08
    📄
    change-to-a-person-with-significant-control
    persons-with-significant-control · PSC04
  7. 2024-08-06
    📍
    change-registered-office-address-company-with-date-old-address-new-address
    address · AD01
  8. 2024-03-28
    📄
    accounts-with-accounts-type-total-exemption-full
    accounts · AA
  9. 2023-03-29
    📄
    accounts-with-accounts-type-total-exemption-full
    accounts · AA
  10. 2022-03-31
    📄
    accounts-with-accounts-type-total-exemption-full
    accounts · AA
  11. 2022-03-22
    📍
    change-registered-office-address-company-with-date-old-address-new-address
    address · AD01
  12. 2021-06-30
    📄
    change-person-director-company-with-change-date
    officers · CH01
  13. 2021-06-30
    📄
    change-person-director-company-with-change-date
    officers · CH01
  14. 2021-06-30
    📄
    change-person-director-company-with-change-date
    officers · CH01
  15. 2021-06-30
    📄
    change-to-a-person-with-significant-control
    persons-with-significant-control · PSC04
  16. 2021-02-04
    📄
    accounts-with-accounts-type-total-exemption-full
    accounts · AA
  17. 2020-03-26
    📄
    accounts-with-accounts-type-total-exemption-full
    accounts · AA
  18. 2018-11-08
    📄
    accounts-with-accounts-type-total-exemption-full
    accounts · AA
  19. 2018-06-21
    🔒
    Charge registered #16
    Lender: Gbf Capital Limited
  20. 2018-06-21
    🔒
    Charge registered #15
    Lender: Gbf Capital Limited
  21. 2018-06-21
    🔒
    Charge registered #14
    Lender: Lee James Sibthorpe
  22. 2018-06-21
    🔒
    Charge registered #13
    Lender: Johnathon Taylor Spinks
  23. 2017-06-23
    🔒
    Charge registered #12
    Lender: John Taylor Spinks
  24. 2017-06-23
    🔒
    Charge registered #11
    Lender: Gbf Capital Limited
  25. 2017-06-23
    🔒
    Charge registered #10
    Lender: Gbf Capital Limited
  26. 2017-06-23
    🔒
    Charge registered #9
    Lender: Lee James Sibthorpe
  27. 2016-06-27
    🔒
    Charge registered #8
    Lender: Gbf Capital Limited
  28. 2016-06-27
    🔒
    Charge registered #7
    Lender: Gbf Capital Limited
  29. 2016-06-27
    🔒
    Charge registered #6
    Lender: Lee James Sibthorpe
  30. 2016-06-27
    🔒
    Charge registered #5
    Lender: John Taylor Spinks
  31. 2015-06-26
    🔒
    Charge registered #4
    Lender: Gbf Capital Limited
  32. 2015-06-26
    🔒
    Charge registered #3
    Lender: Gbf Capital Limited
  33. 2015-06-26
    🔒
    Charge registered #2
    Lender: Lee Sibthorpe
  34. 2015-06-26
    🔒
    Charge registered #1
    Lender: John Taylor Spinks
  35. 2014-06-12
    🏢
    Company incorporated
    As AIR SOURCE HEAT AND POWER LTD
  36. 2014-06-12
    ➕
    SIBTHORPE, Lee James appointed
    director
  37. 2014-06-12
    ➕
    SPINKS, John Taylor appointed
    director

Owner dependency

71/100
High — earn-out structure required

Material founder dependency. Consider a 2-3 year earn-out and build in a handover plan before completion.

FACTORS
  • +Two-director setup: Only two active directors — typical of owner-managed SMEs but limits succession.
  • +Senior director age: Director aged approximately 60 — approaching natural succession window.
  • +No director turnover: Company is 12 years old with no director changes — suggests a very tight-knit founder team never broadened.

Succession & seller-readiness

54/100
Moderate signal

Some succession indicators present. Worth watching; approach if sector/strategy fits.

SIGNALS
  • secondaryFounder aged 58+: Senior director is approximately 60. Early succession window.
  • secondaryTwo-director governance: Small-team governance. Succession depth is thin but not absent.
  • secondary12+ year tenure: Director in role 12 years.

Red flags

1 high · 1 low
Confirmation statement overdue
high

Annual confirmation statement not filed on time. Required statutory filing — overdue is a strong discipline signal.

Evidence: Next due: 2026-06-26

16 live charges
low

Heavily leveraged with multiple live security positions — understand the capital structure before proceeding.

Shareholders & ownership

2 active beneficial owners
NameSharesVoting rightsNature of controlNotified
Mr Lee James Sibthorpe
Individual · British · DOB 06/1969 · age 57
25–50%
25–50%board control25-50% shares · 25-50% voting · board control06/04/2016
Mr John Taylor Spinks
Individual · British · DOB 06/1966 · age 60
25–50%
25–50%board control25-50% shares · 25-50% voting · board control06/04/2016

From Companies House Persons with Significant Control filings. Share ranges are banded per the public PSC regime.

🔒Co-director network graph

Radial SVG graph showing every company connected via shared directors, colour-coded by status.

Available from the Pro tier upwards.

See pricing →

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———————
Peers ranked by estimated value, then turnover, then opportunity score.See all →
🔒Tailored diligence questions

8 specific questions generated from this company's actual signals — liquidity, leverage, director age, charge count, red flags, age-of-company.

Available from the Pro tier upwards.

See pricing →
🔒Advanced scoring suite

Exit-route ranking, improvement thesis, quiet-distress detector, covenant-pressure proxy, extraction monitor, approaching triggers, ownership drift, local cluster, value trap, debt capacity, archetype classification — 48+ scoring modules.

Available from the Pro tier upwards.

See pricing →

Company details

Statusactive
Typeltd
Incorporated2014-06-12
Jurisdictionengland-wales
Primary SIC46690 — Wholesale of other machinery and equipment

Registered office

2 Western Street
Barnsley
S70 2BP
England

Filing status

Accounts
Next due: 2027-03-31
Last made up to: 2025-06-30
Confirmation statement
Next due: 2026-06-26OVERDUE
Last: 2025-06-12

Officers (2 active · 0 resigned)

SIBTHORPE, Lee James→
director · ~57y · appointed 2014-06-12
View their other companies + combined net worth →
Active
SPINKS, John Taylor→
director · ~60y · appointed 2014-06-12
View their other companies + combined net worth →
Active

Click a director name to see their full track record across all companies.

Mortgages & charges

16
Total charges
16
Outstanding
5
Active lenders
Status:Lender:16 of 16 shown
TypeProperties
outstanding
Gbf Capital
Gbf Capital Limited
A registered charge2 properties21/06/2018—
outstanding
Gbf Capital
Gbf Capital Limited
A registered charge2 properties21/06/2018—
outstanding
Lee James Sibthorpe
A registered charge3 properties21/06/2018—
outstanding
Johnathon Taylor Spinks
A registered charge3 properties21/06/2018—
outstanding
John Taylor Spinks
A registered charge3 properties23/06/2017—
outstanding
Gbf Capital
Gbf Capital Limited
A registered charge2 properties23/06/2017—
outstanding
Gbf Capital
Gbf Capital Limited
A registered charge2 properties23/06/2017—
outstanding
Lee James Sibthorpe
A registered charge3 properties23/06/2017—
outstanding
Gbf Capital
Gbf Capital Limited
A registered charge—27/06/2016—
outstanding
Gbf Capital
Gbf Capital Limited
A registered charge—27/06/2016—
outstanding
Lee James Sibthorpe
A registered charge—27/06/2016—
outstanding
John Taylor Spinks
A registered charge—27/06/2016—
outstanding
Gbf Capital
Gbf Capital Limited
A registered charge—26/06/2015—
outstanding
Gbf Capital
Gbf Capital Limited
A registered charge—26/06/2015—
outstanding
Lee Sibthorpe
A registered charge—26/06/2015—
outstanding
John Taylor Spinks
A registered charge—26/06/2015—
Click column headers to sort. Use filters above to narrow by status and lender.

Recent filings (54 total)

accounts-with-accounts-type-total-exemption-full
accounts · AA
2026-06-29
confirmation-statement-with-updates
confirmation-statement · CS01
2025-06-20
change-person-director-company-with-change-date
officers · CH01
2025-06-12
change-to-a-person-with-significant-control
persons-with-significant-control · PSC04
2025-06-12
accounts-with-accounts-type-total-exemption-full
accounts · AA
2025-03-28
change-person-director-company-with-change-date
officers · CH01
2025-01-08
change-to-a-person-with-significant-control
persons-with-significant-control · PSC04
2025-01-08
change-registered-office-address-company-with-date-old-address-new-address
address · AD01
2024-08-06
confirmation-statement-with-no-updates
confirmation-statement · CS01
2024-07-30
accounts-with-accounts-type-total-exemption-full
accounts · AA
2024-03-28
confirmation-statement-with-no-updates
confirmation-statement · CS01
2023-06-20
accounts-with-accounts-type-total-exemption-full
accounts · AA
2023-03-29
confirmation-statement-with-no-updates
confirmation-statement · CS01
2022-06-27
accounts-with-accounts-type-total-exemption-full
accounts · AA
2022-03-31
change-registered-office-address-company-with-date-old-address-new-address
address · AD01
2022-03-22